CFTC Chair tells Congress agency will punish market fraud
Michael Selig told lawmakers the agency will punish those engaging in fraud. The testimony follows reports of suspicious oil trades before policy shifts.
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The head of the top derivatives regulator in the United States is set to testify before Congress, offering assurances that the government will aggressively pursue fraud and insider trading. Michael Selig, the current chair of the Commodity Futures Trading Commission (CFTC), is appearing before the House Agriculture Committee amid increasing scrutiny over potential illicit trading activity linked to non-public information from the White House.
